Tuesday, December 11 2012 16:57

IMF predicts that international reserves in Armenia to amount to $1,6 bln by the end of 2012


Arminfo. The international reserves in Armenia will amount to $1,6 bln by the end of 2012, resident representative of IMF to Armenia Guillermo Tolosa said at today's press-conference in Yerevan. "This is a rather healthy indicator", - he said and added that in May-June 2012 because of devaluation of Armenian dram to US dollar Central Bank was forced to interfere the situation at the currency market so that to stabilize the exchange rate. For this reason, international reserves have found themselves under a sudden pressure and Central Bank took steps for restoration of the lost part of reserves, he said. Representative of IMF thinks that it is good that unlike other years, this year Central Bank interfered the situation at the currency market not so often.

According to Armenian Central Bank, as of 1 November 2012, the size of international reserves amounted to $1,7 bln having reduced by 12,3% versus November 2011.
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